Making More Money and Getting Worse Faster

Not relieved. Something more dangerous: calm. His position had not been wiped out. In fact, because of the brief rebound after last night’s wick, he still had a little unrealized profit left. It was not much, but enough to loosen the most fragile wire in his head. “See?” he told himself. “You were not wrong.” That was the dangerous part. The market gave him a small sweetener, and he immediately translated it into proof that he had understood something others had not. He started believing he was not gambling, only arriving earlier than everyone else. He increased the position, moved his stop-loss farther away, and slowly pushed the disciplined rules he had written for himself to the edge of the table.